Technology

More than BRL 1 million have already been transacted with the Mercado Pago card on WhatsApp

According to Mercado Libre's fintech arm, more than 500,000 users have signed up for the waiting list to use the service

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  • Mercado Pago has issued more than 11 million cards since June 2020;
  • It’s possible to send up to BRL 1,000 per transaction and receive up to 20 transactions per day, or BRL 5,000 per month.

Since the launch of WhatsApp Pay feature in Brazil in May, over BRL 1 million has been transacted through Mercado Pago‘s card.

According to Mercado Livre’s fintech arm, more than 500,000 users have signed up for the waiting list to use the service, and more than half of the Mercado Pago users that have signed up their debit card for WhatsApp payments have already made at least one transaction with the new feature.

WhatsApp money transfer between individuals in Brazil is gradually being released to customers with cards issued by Banco do Brasil, Banco Inter, Bradesco, Itaú Unibanco, Nubank, Mercado Pago, and Sicredi.

READ ALSO: Facebook relaunches WhatsApp money transfers in Brazil

Mercado Pago has issued more than 11 million cards since June 2020. “Our more than 4 million card customers will be able to send and receive money through WhatsApp, being a gateway for millions of more Brazilians to access the feature through their Mercado Pago account,” explains Tulio Oliveira, vice president of Mercado Pago.

READ ALSO: Brazil’s Central Bank grants Facebook a payment initiator license; WhatsApp Pay (re)launch is closer

It’s possible to send up to BRL 1,000 per transaction and receive up to 20 transactions per day, or BRL 5,000 per month. When the user reaches the limit, he or she will not be able to send or receive payments and will have to wait until the next month. For security reasons, WhatsApp only allows five transactions within 30 minutes.

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